Daily Archives: June 12, 2017

International Monetary Fund (IMF) has named 3 key challenges for Georgia. Small exports basis is number one problem for Georgia, Tao Zhang, deputy managing director for IMF, said. “Traditional agriculture and the existing industries such as steel factory will not suffice to boost the country’s exports in quickly-changing global economies. …

In times of celebration, a wine toast may be just one of the most awaited part by many. Popping open the cork while the velvety oaked aroma fills the air and flowing effervescent liquid comes out from the bottle gives excitement to everyone. The bubbly wine usually used to commemorate …

The number of visitors at Georgia’s mountain resorts reached a historical high. According to G & T, Mountain Resorts Development Company (MRDC), the total number of visitors to Georgia’s winter resorts exceeded 400,000 (+37.0% y/y) during the season. Notably, according to MRDC, only about 20% of the visitors were foreign …

Organized by Government of Georgia, the 25th anniversary of establishment of diplomatic relations between the USA and Georgia was held in Washington. At the event the participants discussed investment relations. Irakli Matkava, Deputy Minister of Infrastructure of Georgia, was questioned about inappropriate attitude towards major companies in Georgia. Thomas Melia, …

New innovative product of association “Georgian wine”- www.geowinery.com is an online catalogue of Georgian Wines and alcoholic beverages produced in Georgia, which will be launched in June 2017. The primary purpose of the catalogue is to provide customers with detailed information on wine descriptions, grape varieties, producing companies and other …

Asia Development Bank will finance Batumi highway project. The agreement has been signed by Vice Prime Minister, Dimitri Kumsishvili and Country Director of ADB, Yesim Elhan-Kayalar. According to the project, Batumi 14.3 km highway will be financed and about 200-km-long international and local roads will be repaired. The amount of the …

“Commonwealth has positively assessed joint events and projects implemented by the Georgian Government and the national bank of Georgia,” Dimitri Kumsishvili says. According to the Finance Minister, high rates of dollarization are solid challenge for several countries, including Georgia. It has been five month since the beginning of our larization …

Famous South Korean oenologist Jin-Sik Bang recently visited Georgia. A columnist for “Korean Air” inflight magazine with circulation of almost a million copies, professor Jin-Sik Bang plans to focus his 100th anniversary article on Georgian wine. Jin-Sik Bang visited National Wine Agency and met with the deputy chairman of …

Company Vinti was established to provide simpler and more effective communication for those, involved in international transportation. In 2016, Iva Kontridze, Davit Chkuaseli, Tengiz Alpenidze and Mindia Chubinidze were granted with 67000 GEL to implement the project. Vinti application offers high technology services to customers and enables them to contact people involved …

The year of 2017 started with positive tendencies in Georgian economy. In January, preliminary indicators of economic growth marked 5.2%, in February the figure totaled 4.4%, in March – 5.3%. As compared to the first quarter of 2016, economic growth indicator made up 5%, that is the highest figure after …

Georgia Ranks 8th in terms of Inequality of Financial Revenues among Georgian Citizens. According to information of Geostat, national statistics service of Georgia, in 2016 GINI coefficient in terms of total revenues made up 0.40 and this is a worsened indicator as compared to the previous year. The coefficient was …

Logistics centers with a total investment value of $153 million will be established in the German cities of Tbilisi and Kutaisi. According to the feasibility study of the logistics centers’ construction developed by the German company Dornier Consulting International, the sites near the village of Kumisi in the vicinity of …